Binance, the world’s largest cryptocurrency exchange, has made new moves. It was announced today that it will launch the “Binance Card” in Europe and the United Kingdom, allowing cryptocurrency users to use this debit card to spend in the region. It will include four cryptocurrencies, namely Bitcoin, Binance Coin (BNB), Binance Dollar Stable Currency (BUSD), cryptocurrency e-wallet and Visa debit card platform Swipe SXP.
After Binance acquired Swipe in early July, it immediately prepared to launch the Binance Card. The company pointed out that this debit card is different from other cryptocurrency cards. It does not require the user to manually convert the cryptocurrency into fiat currency every time they transact. Added value. Binance Card can automatically convert the encrypted currency in the card for users to use instantly. At the same time, users can add value through Binance’s Spot e-wallet and choose the priority order of which cryptocurrency to use.
Binance Chief Executive Zhao Changpeng said in a press release that the company hopes to make cryptocurrencies more popular and allow users to convert cryptocurrencies to use them seamlessly directly during consumption. He also said that more new features will be introduced in the future to enhance the user experience and promote it to other regions. According to the company’s earlier introduction, Swipe’s Visa debit card can be used in 31 European countries including France, Germany, Italy, and Spain.
Users of Binance’s European Economic Area can apply for a Binance Card from August, while users in the UK can apply later. When Binance acquired Swipe, it also expressed the hope that both parties will cooperate to launch debit cards to promote the use of cryptocurrencies in the mainstream world and narrow the distance between fiat and cryptocurrencies.